UK aero firms boosted by planemaker demand


British aerospace suppliers Meggitt, Senior and Cobham said they had started 2012 well, boosted by robust demand from commercial planemakers.

Meggitt, which supplies flight displays and wheels to planemakers Airbus and Boeing, said it was confident it would deliver full-year revenue growth in excess of 10 percent, driven largely by growth at its civil aerospace unit.

Aero engineer Senior said first quarter profit had been slightly ahead of its expectations, helped by a healthy backlog of work from the world’s big two planemakers, Reuters reports.
“Boeing and Airbus delivered a combined 268 aircraft in the first three months of 2012, up 20 percent on the 223 aircraft delivered in the same period of 2011,” Senior said in a statement.
“Their combined order book at the end of March, of 8,441 aircraft, now represents an eight-year order book at current build rates, which bodes well for the future.”

Boeing Co turned in a stronger-than-expected quarterly profit on Wednesday as the company was able to ramp up production to meet rising demand.

Aero electronics group Cobham said organic revenue growth had been modestly positive in the first three months of 2012 and that its order book had increased slightly to 2.5 billion pounds ($4 billion).

Earlier this month Cobham renewed its 270 million pound bid for Thrane & Thrane after some investors warmed to the proposal, selling the suitor almost a quarter of its Danish rival.

Cobham, which earlier this week said Bob Murphy would become its new chief executive in June, said its chief financial officer Warren Tucker would stand down at the company’s annual shareholder meeting in 2013.